The world’s two largest economies, China and the United States, failed to agree on the language of a joint statement they were expected to issue following the Asia-Pacific Economic Cooperation (APEC) meeting in Papua New Guinea, underscoring the tense relationship between them.
This was the first time in over two decades since the annual meeting began taking place that it ends without leaders from the U.S. and China issuing a joint communique. Such a development clearly shows that the trade war between the U.S. and China will not come to an end anytime soon.
“I don’t think it will come as a huge surprise that there are differing visions on particular elements in regard to trade,” Canadian Prime Minister Justin Trudeau said in a press conference. “That prevented there from being a full consensus on the communique document.”
The main reason for the dispute, said Papua New Guinea Prime Minister Peter O’Neill, were reforms from the World Trade Organization. Other countries expressed concerns with the reforms as well, he added.
According to a U.S. official, China had expressed issue with a pledge from governments to fight “all unfair trade practices” because it believed the statement singled it out.
The two countries’ failure to issue a joint statement also lowers expectations that President Donald Trump and his Chinese counterpart Xi Jinping would be able to reach any breakthroughs at the G-20 summit in Argentina due at the end of this month. O’Neill added that that the summit would “be an opportunity for the leaders to sit down and resolve those issues,” although experts don’t expect much to come from it.
China and the United States have been embroiled in a trade war for several months now, with the two nations exchanging billions in retaliatory tariffs.
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